The biggest U.S. exchange-traded fund (ETF) that tracks oil, the United States Oil Fund, known as USO, is heading for the largest two-month outflow in six years. Investors are worried that it could be the end of crude’s 30 percent rally. Shareholders of the USO have withdrawn almost $1 billion so far since the beginning of April, … Continue reading
China’s success in establishing the Asian Infrastructure Investment Bank has been widely regarded as a diplomatic fiasco for the United States. By Anne-Marie Slaughter After discouraging all US allies from joining the AIIB, President Barack Obama’s administration watched as Great Britain led a raft of Western European countries, followed by Australia and South Korea, into … Continue reading
American diplomacy favors (majority) white, English-speaking countries (the UK, Canada, Australia and New Zealand) and non-Hispanic European settler states (Canada, Australia and New Zealand again, but also Apartheid South Africa and, of course, Israel). By Andrew Levine South Africa eventually fell out of favor, thanks in part to boycott, divestment and sanctions efforts in Western … Continue reading
“The dollar is our currency, but it’s your problem.” This is what US Treasury Secretary John Connally said to his counterparts in the Rome G-10 meeting in November, 1971, shortly after the Nixon administration ended the dollar’s convertibility into gold and shifted the international monetary system into a global floating exchange rate regime. The world … Continue reading
Nearly a decade ago, a keen observer of Honduras produced a damning analysis of the country. “In a very real sense, Honduras is a captured state,” he began. “Elite manipulation of the public sector, particularly the weak legal system, has turned it into a tool to protect the powerful,” and “voters choose mainly between the two … Continue reading
For thirteen years through legal cases attempting to show Saudi financial support of al Qaeda, and thus bearing at least some responsibility for 9/11, the US court system, the Executive, and in fact the whole apparatus of the government, have played hard-ball, resisting evidence even though the issue directly affects the causation of a seminal … Continue reading
Russian President Vladimir Putin has used a planned visit to Egypt to make a scathing criticism of the U.S.-led international coalition against the Islamic State (IS) group, accusing the United States and its Western allies of being responsible for the Syrian crisis as well as the military conflict in Ukraine. By Joanna Paraszczuk In comments widely … Continue reading
More foreign direct investment flowed into China than the US in 2014, bumping the US off the top spot for investment in the world, a position it has held since 2003. China attracted $127.6 billion in foreign investment in the past year, far more than the $86 billion that flowed into the US, according to … Continue reading
Mikhail Gorbachev has accused the US of dragging Russia into a new Cold War. The former Soviet president fears the chill in relations could eventually spur an armed conflict. “Plainly speaking, the US has already dragged us into a new Cold War, trying to openly implement its idea of triumphalism,” Gorbachev said in an interview … Continue reading
By Lawrence Wittner A quarter century after the end of the Cold War and decades after the signing of landmark nuclear arms control and disarmament agreements, are the U.S. and Russian governments once more engaged in a potentially disastrous nuclear arms race with one another? It certainly looks like it. With approximately 15,000 nuclear weapons … Continue reading